Mechanics Bank Trust Department trimmed its position in The Walt Disney Company (NYSE:DIS – Get Rating) by 24.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,703 shares of the entertainment giant’s stock after selling 4,513 shares during the period. Mechanics Bank Trust Department’s holdings in Walt Disney were worth $1,294,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of DIS. Summit Global Investments boosted its position in shares of Walt Disney by 21.1% in the 4th quarter. Summit Global Investments now owns 4,078 shares of the entertainment giant’s stock worth $632,000 after purchasing an additional 711 shares during the last quarter. ETF Managers Group LLC boosted its position in shares of Walt Disney by 4.9% in the 4th quarter. ETF Managers Group LLC now owns 3,699 shares of the entertainment giant’s stock worth $577,000 after purchasing an additional 174 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Walt Disney in the 4th quarter worth $2,932,000. Partners Capital Investment Group LLP boosted its position in shares of Walt Disney by 33.8% in the 4th quarter. Partners Capital Investment Group LLP now owns 27,730 shares of the entertainment giant’s stock worth $4,295,000 after purchasing an additional 7,009 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of Walt Disney by 2.2% in the 4th quarter. IHT Wealth Management LLC now owns 37,247 shares of the entertainment giant’s stock worth $5,769,000 after purchasing an additional 799 shares during the last quarter. 61.37% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, EVP Brent Woodford sold 3,000 shares of Walt Disney stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $119.03, for a total transaction of $357,090.00. Following the completion of the transaction, the executive vice president now owns 28,624 shares in the company, valued at $3,407,114.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.
Walt Disney Trading Down 2.2 %
Walt Disney (NYSE:DIS – Get Rating) last posted its quarterly earnings results on Wednesday, August 10th. The entertainment giant reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Walt Disney had a return on equity of 7.20% and a net margin of 3.87%. The business had revenue of $21.50 billion during the quarter, compared to analysts’ expectations of $21.01 billion. During the same quarter last year, the company posted $0.80 earnings per share. Walt Disney’s quarterly revenue was up 26.5% on a year-over-year basis. Analysts expect that The Walt Disney Company will post 3.85 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages recently commented on DIS. Evercore ISI dropped their price objective on Walt Disney from $150.00 to $130.00 in a research note on Wednesday, July 27th. Moffett Nathanson dropped their price objective on Walt Disney to $120.00 in a research note on Friday, July 22nd. The Goldman Sachs Group raised their price objective on Walt Disney from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. dropped their price objective on Walt Disney from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, August 11th. Finally, Wolfe Research dropped their price objective on Walt Disney from $211.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.48.
Walt Disney Company Profile
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. The company engages in the film and episodic television content production and distribution activities, as well as operates television broadcast networks under the ABC, Disney, ESPN, Freeform, FX, Fox, National Geographic, and Star brands; and studios that produces motion pictures under the Walt Disney Pictures, Twentieth Century Studios, Marvel, Lucasfilm, Pixar, and Searchlight Pictures banners.
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